UGHH!!! Need help fast - Posted by James (FL)

Posted by GMann on July 20, 2003 at 08:46:23:

You are very short on time but you can try Eastern Savings Bank. They are based in MD so they should have a higher comfort level with the property.

Keep in mind, they are a hard money bank and most of thier rates are in the double digits.

UGHH!!! Need help fast - Posted by James (FL)

Posted by James (FL) on July 18, 2003 at 10:34:30:

Hello all,

I was set to close on a home in Baltimore on 7/16, or so I thought. The lender did not get it done on time, so we extended the contract to the 31st. The seller will not extend again because he has other interested parties. I have called my lender for the past four days and not received a call back. I called and finally got someone on the line, and they told me the person who was doing my loan, quit! The new processor who is handling it, well let’s just say I called him for the last three days and left him messages just asking for the status. NO return call. I sent him an emotionally charged email yesterday, stating who unprofessional it was to not even call me back, and I deserve to at least get an answer. He read the email (according to my return receipt request) but still hsa not responded. I am in Orlando and they are in Ft Lauderdale. I am ready to drive down there and crack some heads if for nothing else, the satisfaction of letting go of some anger!!!
Anyways, I am now in need of a private lender that can close in the next 10 days. I know I will be paying higher interest but that’s ok now. here are the numbers
ARV $245K. Already have the subject to appraisal finished.
Need $170K ($120K purchase, and $50K for rehab)
Can anyone out there help me find a lender on this. The home is in Baltimore, MD
Three partners involved.
768, 686, and 635 mid FICO scores respectively. Have reserves of $10K, but would like to finance the whole 170K.
I appreciate any and all responses.


Aggrivated in Orlando!